SolarEdge price target lowered to $25 from $35 at RBC Capital

RBC Capital lowered the firm’s price target on SolarEdge (SEDG) to $25 from $35 and keeps a Sector Perform rating on the shares. The firm is reducing its FY25 EPS view to (94c) from 47c and its FY26 view to $1.27 from $3.59 to reflect more conservative demand outlook and revisions to average-selling-price assumptions, the analyst tells investors in a research note. SolarEdge remains well positioned with installers for growing adoption but could face near term competitive pressure from Tesla (TSLA) if its Powerwall 3 adoption grows ahead of scaling domestic production of SolarEdge’s battery, the firm added.